ID: MRFR/ICT/0860-CR | February 2020 | Region: Global | 126 pages
Cloud gaming, also known as on-demand gaming, eliminates the need for any specific hardware to play games. Growing penetration of high-speed internet, rising adoption of smart devices, increasing utilization of gaming as a service, and digital transformation in the media & entertainment industry are some of the factors driving the growth of the market.
Digitalization of information has enabled end users to store, access, and share data across different platforms, around the globe. Digital transformation has also affected the media and entertainment industry significantly due to the advancements in mobile technology and high Internet penetration. Earlier, newspapers, magazines, and radios were the primary means of distribution of information; however, with digitization, information is primarily transmitted via social media platforms, television, and the Internet.
Cloud gaming permits distant content storage in a connected environment, thereby reducing the storage concerns as well as increasing the accessibility and reach of the content. Moreover, the cloud helps in restructuring content on different smart devices, further improving content delivery across all mediums. Cloud gaming provides users with a number of advantages, such as faster speed, scalability, better user insights; it also keeps the user constantly updated. The global cloud gaming market is expected to register a CAGR of 24.6% and account for a market value of 3,806.52 million in 2023
The key players of the global cloud gaming market are Sony Corporation (Japan), Game Fly (US), Nvidia Corporation (US), Ubitus Inc. (US), Playkey (US), PlayGiga (Spain), Tsinghua Tongfang Co., Ltd (China), Microsoft Corporation (US), Zynga, Inc. (US), Cirrascale Corporation (US), Google, LLC (US), and Hatch Entertainment Ltd (Finland).
Source : MRFR Analysis
The cloud gaming market has been segmented on the basis of type, gaming system, deployment, end user, and region.
Based on type, the cloud gaming market has been segmented into video streaming and file streaming. The video streaming segment accounted for the larger market share in 2018 with a market value of 853.87 while the file streaming segment is expected to register the higher CAGR of 28.11% during the forecast period.
Based on deployment, the market has been categorized into hybrid, private, and public cloud. The private cloud accounted for a market value of USD 544.76 million in 2018, whereas the hybrid segment is expected to exhibit the highest CAGR.
Gaming system-based segmentation of the cloud gaming market comprises Remote Play, G-Cluster, PlayStation, StreamMyGame, steam in-home streaming, and others. The steam in-home streaming segment accounted for the largest market share in 2018 while the StreamMyGame segment generated a revenue of USD 264.38 million in 2018 and is expected to register a 21.25 % CAGR.
Based on end user, the cloud gaming market has been segmented into casual gamers, serious gamers, and social gamers. The social gamers segment accounted for the largest market share in 2018, and the serious gamers segment expected to register the highest CAGR of 28.17% during the forecast period.
Geographically, the global cloud gaming market has been segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.
North America is expected to be the largest market for cloud gaming and is expected to remain dominant during the forecast period. The rapid growth of cloud computing and the growing presence of professional gamers are expected to fuel the market growth during the assessment period. Furthermore, increased government investments in cloud computing and related technologies, growing adoption of smartphones, and increasing penetration of high-speed Internet are some of the other factors responsible for the growth of the market.
Key questions addressed by the report
Frequently Asked Questions (FAQ) :
The digital makeover in the media & entertainment industry is expected to play a significant role in the development of the market.
The inaccessibility to high-speed internet is expected to create an obstruction to the growth of the global market.
Nvidia Corporation (US), Ubitus Inc. (US), Zynga, Inc. (US), Game Fly (US), Playkey (US), Tsinghua Tongfang Co., Ltd (China), PlayGiga (Spain) and Microsoft Corporation (US) are expected to exert an increased level of influence on the market.
The segments in the market are of a gaming system, type, deployment, region and end-user.
By the year 2023, the market is estimated to earn 3,806.52 million.
The North American region is expected to capitalize on the rapid growth of cloud computing to gain the top position in the market.
The forecast period is expected to span the years from 2017 to 2023.